Business
AIS Class A Agreements
AIS Class A Agreements.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY PLC \n\n AIS Class A Agreements \n\nSoftware Radio Technology plc (\"SRT\" or the \"Company\") is pleased to announce\nthat it has signed three distributor agreements and received its first orders\nfor its forthcoming AIS Class A transceiver.\n\nThe agreements are with three international companies based in Europe and North\nAmerica. All are recognised players in the marine electronics market with\nestablished brands and sales channels.\n\nUnder the terms of the agreements, the companies will purchase SRT's Class A\nsolutions in order to launch a new range of AIS Class A transceivers. SRT\nembarked on the development of its new Class A solution in 2008 and expects to\ncommence shipping of fully approved product during Q1 2010. SRT will provide\ncustomers with a low cost, small solution which is compliant with all relevant\nIEC (AIS international standards committee) standards, thereby enabling them to\nreduce the cost of their existing Class A offers.\n\nThe market for Class A transceivers was first created by the SOLAS mandate from\nthe International Maritime Organisation in 2002 which required most vessels\nworldwide over 300GT to be fitted with a Class A transceiver. Recently both the\nEU and US have announced further mandates which will require Class A\ntransceivers to be fitted to more vessels. In the EU two mandates have been\nannounced, the first requiring the majority of commercial vessels on inland\nwaterways to be fitted with a Class A transceiver by the end of 2011 and the\nsecond all fishing vessels by 2014, thereby creating a market for tens of\nthousands of Class A transceivers. In the US, mandates are expected in the\nfuture which will require certain classes of commercial vessels to be fitted\nwith Class A transceivers.\n\nSimon Tucker, CEO of SRT said, \"As we reported in our recent results, this year\nhas seen SRT focus on the development of new technologies and products to meet\ndemand from the growing AIS market. We believe our Class A product sets a new\ncost, size and performance standard in the AIS market and will enable new and\nexisting suppliers of AIS Class A products to renew and refresh their offers to\nremain competitive. These agreements are the first step in commercialising our\nsignificant investment in this product and lay the foundations for an\nadditional revenu...